Fiscal policy

Bucharest, Dec 30 /Agerpres/ - Prime Minister Florin Citu announced on Wednesday that in 2021 holiday vouchers in the amount of 1,450 lei will be granted to public-sector employees, this measure being included in the emergency ordinance on fiscal measures initiated by the Ministry of Finance.

Prime Minister Florin Citu said on Monday that the 2021 budget will be built with a deficit of 7 per cent of GDP, which shows the commitment to fiscal consolidation, noting that it is a budget that does not put a brake on the economy. "We have already seen discussions in the public space and we need to clarify for next year's budget what measures remain and how they will be extended.

Ljubljana – The Fiscal Council has warned that the latest legislative stimulus package contains certain provisions that may worsen the structure of public finances, including the proposal for simplified retirement and one-off aid to population groups not directly affected by the coronavirus epidemic.

Ljubljana – The Eco Fund has reduced subsidies for electric vehicles in its latest tender published in the Official Gazette. The fund decided for the move because the overall volume of subsidies had been rising in recent years as the number of subsidised vehicles almost doubled each year while the price of vehicles has been dropping.

Ljubljana- In the second wave of epidemic, the government seems to be taking rapid measures under pressure to be able to boast, believes Davorin Kračun, the head of the Fiscal Council. “It could easily happen that many measures will prove counterproductive,” he said in an interview the newspaper Večer runs on Saturday.

The construction sector and others dependent on it are in for a massive investment injection in the coming years through the new state subsidy program "Exoikonomo-Aftonomo," which kicks off on Friday in the region of Epirus and will cover the entire country in the next few weeks.

PM Zdravko Krivokapic with ministers after the government session in Podgorica. Photo: Government of Montenegro

On Wednesday, the Ministry of Finance and Social Care clarified that the country took the loan from BofA Securities, Citigroup, Erste and the Société General group, adding that it will be repaid over seven years at 2.95 per cent interest.

Ljubljana – The government extended the validity of tourism vouchers until the end of 2021 on Thursday. Announcing the move, government spokesman Jelko Kacin said that the decision aimed to help the tourism sector, which has been badly hit by the epidemic.

Tourism vouchers were introduced as part of the third stimulus package, which was passed in parliament in late May.

Bank of Greece Governor Yannis Stournaras reiterated on Tuesday that the country's public debt remains sustainable until at least 2030, despite its increase as a ratio to the gross domestic product.

Turkey's current account balance posted a $5.06 billion gap in April, widening from a $469 million deficit in the same month last year, the Turkish Central Bank announced on June 12.

According to the balance of payments figures released by the bank, the country's 12-month rolling deficit totaled $3.3 billion.